Miracle Mile Advisors, a California-based independent investment advisory firm, has partnered with TD Ameritrade to launch a “modern” 401k platform delivering “highly customized” investment options using low-cost exchange-traded funds.

Miracle Mile Advisors, a California-based independent investment advisory firm, has partnered with TD Ameritrade to launch a “modern” 401k platform delivering “highly customized” investment options using low-cost exchange-traded funds.

The corporate retirement offering provides access to some 800 ETFs covering a range of asset classes with all-in annual fees of the plan projected to be slightly less than 1 per cent. The firm said that many traditional 401k plans charge over 2.5 per cent.

“By using ETFs as the primary investment vehicle, this platform allows companies to offer retirement benefits with flexible options, lower fees and no proprietary products,” Miracle Mile Advisors said, adding that the plan also features on-site investment education.

“It is time for companies to offer a more progressive set of options to their employees,” said managing director, Duncan Rolph.

Miracle Mile Advisors serves high net worth families and businesses across the US, based in Los Angeles.